ONE OF THE MOST VOLATILE 15 HOURS IN OIL HISTORY.
OIL $CL crashed 13% after Trump announced a pause on "Project Freedom" the U.S. naval mission to guide ships through the Strait of Hormuz.
The sell-off intensified on reports that the U.S. and Iran are closing in on a one-page memo to end the war.
The market reversed instantly, with Oil pumping 8% back toward $95 after Trump issued a final ultimatum.
He warned that while "Epic Fury" could end and the Strait could be "OPEN TO ALL," any rejection of the deal would trigger bombing at a "much higher level and intensity" than before.
The market is now trading exclusively on headlines.